Apple reportedly planning to invest hundreds of millions on Twitter

By Gene Ryan Briones on 07/30/2012 09:58 PST

Cupertino-based technology giant Apple has reportedly met and talked with executives at Twitter about a possible investment in the popular social networking platform. According to a report from the New York Times, Apple is said to be planning on investing hundreds of millions on Twitter – a deal that could potentially shoot the social network’s value to more than $10 billion, up from $8.4 billion last year. Both Apple and Twitter have declined to comment on the report.

Citing from sources familiar with the subject matter, the publication said that the talks are a sign of a possible partnership, although there is no guarantee that the two companies will actually come to an agreement. Going social could be a good option for Apple. In June this year, Twitter CEO Dick Costolo said that the social network is already making more money on mobile than on the desktop. “Twitter now has more than 400 million Tweets per day and more than 140 million active users who log in at least once per month,” Costolo said.